I publish my OBV script for Volumes analysis & Volumes switch spotting.
This indicator include : On Balance Volumes, 6 EMAs based on Volumes, Regular and Hidden divergences with double pivot confirmation OBV Colors is gradient : momentums with power will turn to lighter colors, momentums without power will turn to darker colors
1) OBV : On Balance Volumes On-balance volume (OBV) is a form of technical analysis which enables traders to make predictions about future price movements based on the asset’s previous trading volume OBV is mostly used in shares trading, because the volume has an especially large influence on the way share prices move Trading volume is the amount that an asset has been traded during a given time period Traders who use OBV believe that a sharp increase in trading volume , without a reciprocal increase in the asset’s price, will cause the market price to suddenly increase or decrease
Calculation : OBV is a cumulative result, which means that it is effectively a running total of an asset’s trading volume The OBV is the total volume , and it accounts for both positive and negative changes in an asset’s trading volume
2) EMAs & Cloud : A bunch of 6 EMAs adapted on volumes, the last of the 6 EMAs ( EMA 6) forms a colored cloud with the OBV Line EMA 1 is the first filter for OBV colors EMA6 is the last filter for OBV colors
3) Multi Divergences : Divergence detection based on 2 pivot levels verification (taken from OPAL - Newton) Plots Regular and Hidden Divergences Filtered with EMA 6
4) Alerts: Set alerts on Divergences, regular, hidden, or both Set alerts on OBV fast Crosses with EMA 1 Set alerts on OBV slow Crosses with EMA 6
This might help you to see OBV (volumes) movements clearly, that is not a bounded indicator like RSI or stoch's Stick with the trends) Everything is customizable, all the settings are unlocked
Wishing you success !
<o/
Release Notes
Options optimizations, should now scale with Omni indicator add OBV thickness settings add Coloration presets reduce trackline
This script is published closed-source and you may privately use it freely.
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